Gold up $17 to $974, gold and silver stocks follow
Gold futures shot up today at 10:30 am NY triggered by a weak jobs report as it broke through 60 day highs of 960. The six month high was 980 in May 2009. Gold investments have made money over 8 years starting at $300 in 2001. Gold hit a high in the $1000 area in February 2008 but has not been...
Reflation trade back on: crude up,dollar down, housing sales up
Crude oil futures continued their momentum today with October prices at a 2009 high of $74. The market followed as all four major stock indices reached 2009 intraday highs. Strong home sales for the 4th month in a row were one of the catalysts. July sales of existing homes jumped 7.2% the...
H1N1 Influenza vaccine manufacturers ramp up for October 15
Vaccine shortages may require targeting of subpopulations As health officials in the Northern Hemisphere mobilize for the annual Flu season compounded by the pandemic H1N1(Swine) Flu, production of a vaccine looms critical. Last week the WHO said that H1N1 Flu is already spreading in India,...
Risk trade off with strong dollar, weak China action
A continuation of the broad market sell-off that started Friday picked up speed at the open but has stabilized; traders are anxiously looking at the last 15 minutes of trading to see if a downdraft kicks in. The US Dollar Index is at $79.26 off its daily highs but higher than recent 5 day lows...
Biotech Sell-Off Continues
Biotech stocks followed the market down today with the NASDAQ being down 1.8% and the S&P down 1.5% . The biotech ETF's tracked the market closely with the IBB down almost 2% and the XBI down 1.65%. The summer rally which gathered momentum with the acquisition of Medarex by Bristol on July 24...